Differentiating Visionworks’ offering with product protection
In the competitive landscape of the eyewear industry, Visionworks is a leading optical retailer seeking to differentiate itself by providing an unparalleled customer experience. They partnered with Extend to uplevel their customer experience with product protection, ensuring that they can provide the best experience throughout the customer relationship.
Tripling their previous attach rate after simplifying plan coverage
Visionworks faced several challenges with their previous warranty program, including complex coverage terms and ambiguous pricing structures based on product prices. By comparison, Extend's solution offers simplified protection plans and ensures that the value is clear for customers, which has led to an increase in protection plan purchases.
One notable improvement was the inclusion of one year of accidental damage and handling (ADH) coverage for all products. This straightforward approach made it easier for customers to understand the value of the protection plans, leading to increased conversion rates.
Upon implementing Extend's product protection solutions across their more than 750 stores, Visionworks experienced a remarkable 3x increase in attach rate compared to their previous legacy protection plan provider. This metric indicates the percentage of customers who opted to purchase the protection plans alongside their eyewear products. The high attach rate illustrates the effectiveness of Extend's offering and the appeal it held for Visionworks' customer base.
“At Visionworks, we’re committed to helping every customer find eyewear that fits with their personal style, but that also means helping them replace that product if needed once they’ve found something they love,” said Senior Product Manager at Visionworks, Wade Chouinard. “Partnering with Extend Product Protection is a critical way we’re able to provide unparalleled customer experience no matter what happens to their favorite eyewear.”
Boosting Visionworks’ revenue from go-live to repeat purchases
Extend's product protection program generated significant revenue for Visionworks from day one. Within the first two months of launching Extend Product Protection, Visionworks recorded an impressive 122% increase in protection plan unit sales. This substantial uplift in revenue not only positively impacted Visionworks' bottom line but also underscored the value customers perceived in the protection plans themselves.
Driving Customers Back to Stores
Extend proved instrumental in driving customers back to Visionworks' stores. By leveraging Extend's seamless adjudication process, Visionworks had the autonomy to handle customer claims internally and position their reps as experts in everything related to eyewear. This process increases customer confidence and encourages repeat business and brand loyalty.
Comprehensive training and enablement
Extend played an integral role in boosting Visionworks' program success by providing comprehensive training and enablement resources. More than 4,400 associates were trained on how to effectively position Extend plans to customers. This extensive training ensured that Visionworks' employees were equipped with the knowledge and confidence to communicate the value of protection plans, resulting in higher sales rates.
Creative Extend co-marketing assets for increased visibility in-store
Additionally, Extend's co-marketing resources, including a series of static banners in Visionworks’ 40 learning centers, counter mats, monitor flags, and customer takeaways, have empowered Visionworks' associates to effectively promote extended warranties, further improving conversion rate. Visionworks has seen how innovative product protection solutions from Extend can drive customer satisfaction and business success.
To learn more about how Extend can help you add value to the customer experience and increase your bottom line, click here for a custom demo.